Top 1% Would See $90,000 Tax Rise, Report Says

By

John D. McKinnon

Updated March 23, 2012 5:58 p.m. ET

Americans whose income ranks them in the top 1% of earners would see their taxes rise by more than $90,000 on average next year under President Barack Obama's budget proposal, according to a nonpartisan research group's new estimate.

"Almost all of the rich would end up paying a lot more," said Roberton Williams, a senior fellow at the nonpartisan Tax Policy Center, a joint venture of the Brookings Institution and the Urban...